Merchant Cash advance in Canada
GoKapital offers merchant Cash advances in all English-speaking regions of Canada. From $20,000 up to $5,000,000.
Now that the Canadian alternative financing market is taking off, many small and mid-sized businesses in Canada are turning to GoKapital for Working Capital solutions.
With Gokapital unlocking the door to alternative business lending, Canadian business owners will be able to benefit from quick and easy business funding.
Say YES to any growing opportunities with Gokapital’s Merchant Cash Advance programs.
Or, get a free consultation.Got questions? Call 866.257.2973
How it works:
With GoKapital your financing options are based on your monthly Debit and Credit Card sales. If your business does not accept credit or debit card payments yet, no problem, we can still help. Our approval process looks at your business banking activities and overall business health.
If the bank has denied you a loan, we are able to say YES!
Apply in three simple steps.
What is a Merchant Cash advance?
A merchant cash advance (MCA) is not technically a loan, but instead, it is an upfront advance of cash in exchange for a slice of your future debit and credit card sales, plus a fee.
Who qualifies for a Merchant Cash advance?
Small and mid-size business owners in all English-speaking regions in Canada*
How do I qualify?
Most companies will only look at your credit score, others will look solely at your sales. At GoKapital, we look at your overall business health. If your business meets the following basic requirements, you could be eligible to obtain a merchant cash advance from GoKapital.
- You have a Canadian-based business.*
- You have average monthly sales of $25,000, CAD
- You have been in business for at least 4 months.
How to apply?
To start an application, you’ll only need the following documents:
- MCA loan application
- Merchant ID number
- Government-issued photo ID
- 4 months of business bank statements
- 4 months of card processing statements (if applicable)
Perks of Gokapital business funding:
- No upfront fees
- Soft pull loan application
- No minimum credit score
- Competitive rates**
- Fast approval
- No collateral needed
Merchant Cash advance Vs. Business loans
A merchant cash advance is quicker than a traditional business term loan. You can get funded within a week and with no heavy paperwork. Also, when you get an MCA you won’t lose your home since this type of loan is unsecured. You won’t have to forfeit any of your personal or business assets.
In which areas of Canada do you provide service?
We provide MCA services in all English-Speaking providences of Canada:
- British Columbia
- Newfoundland and Labrador
- Prince Edward Island
- Nova Scotia
- Northwest Territories
We DO NOT lend in:
- New Brunswick
How can I use the proceedings of the MCA?
You can use the proceeding for anything that will significantly improve your business. Remodel your facilities, purchase new equipment, stock on inventory, cover monthly payroll, and much more.
How does repayment Work?
You can repay an MCA on your own time. Unlike traditional loans, there is no fixed time to repay the loan in full. When you accept the offer, you allow the lender to withhold a percentage of your daily, weekly, or monthly sales until you have repaid your advance in full.
**What are your rates?
The final interest rate will be calculated based on the information provided in your applications form. It will vary depending on the strength of the whole application. The interest rate will be informed to the applicant in the initial offer. The applicant will be free to either accept or deny the interest rate offered. Our rate ranges from 14% to 45%
How fast do you deliver the funds?
We approve and fund fast, however, the approval and funding process depends on how fast the applicant delivers all the necessary documentation.
Do you require collateral?
No, merchant cash advances are unsecured.
What are your loan amounts?
We lend from $25,000 CAD to $6,700,000 CAD.
Why should I work with Gokapital?
We have been in the alternative ending business since 2013. We’ve funded loans all across the United States. We pride ourselves on delivering exceptional customer service. Take a look at our customer reviews on Google.
Does applying for an MCA hurt my credit?
Not at all. When you apply with Gokapital, we perform a soft-pull. That won’t affect your credit score whatsoever. If the applicant accepts the offer